AGM Statement

RNS Number:1913O
City Of London Group PLC
31 July 2003

RELEASED ON BEHALF OF:
City of London Group PLC (LSE: CIN)

                                                                   JULY 31, 2003


            COLG'S INVESTMENT PORTFOLIO SHOWS GOOD GAIN SINCE MARCH:
            ARCHIVE-IT DISPOSAL TALKS CONTINUE ON AN EXCLUSIVE BASIS


Discussions on the disposal of Rchive-it.com Ltd (trading as Archive-it), the
compliance archiving software business, are now continuing with an American
company on an exclusive basis, chairman John Greenhalgh told the annual meeting
today.  He added that the group was also looking at a small acquisition
within the media sector.

The group's investment portfolio showed good recovery from end March and in the
four months to end July had gained #1.1m to #6.58m (including #280,000 unquoted)
before bank borrowings of just under #3m.  Additionally the investment in
Archive-it stood at #2.55m.

Trading in the PR division specialising in mining and exploration companies,
remained difficult, and was under examination for a new strategy to be
introduced in the second half.

Further Information:


 John Greenhalgh, Chairman City of London Group.    Tel: [phone];
                                                         070500-39678 (mobile)

 Peter Doye, Deputy Chairman, City of London Group. Tel: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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